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#AEW2023 Farmout Forum Connects Investors to African Blocks

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3 years ago

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African Energy Week

Financial services company Moyes & Co, global acquisition and divestment advisor Envoi, and oil and gas deal listing platform FarmoutAngel hosted the African Farmout Forum at this year’s African Energy Week conference

CAPE TOWN, South Africa, October 18, 2023/APO Group/ — 

The African Energy Week (AEW) 2023 conference and exhibition – organized by the African Energy Chamber (http://www.EnergyChamber.org) – is centered on facilitating investment across the entire African energy value chain. This year’s conference featured the inaugural African Farmout Forum, a dedicated investment platform spearheaded by financial services company Moyes & Co; global acquisition and divestment advisor Envoi; and oil and gas deal listing platform FarmoutAngel.

The Farmout Forum served as a premier platform to sign deals while gaining first-hand insight into emerging E&P opportunities in Africa. Mike Lakin, Managing Director of Envoi, kicked off the forum by stating, “We will have a major problem in the world if we are not drilling.” Presentations were delivered on various exploration opportunities.

PetroQuest: Somalia

PetroQuest is offering an investment opportunity for three blocks – PSA Blocks 131, 190 and 206 – offshore Somalia. Somalia has only had two deepwater wells drilled to date. PetroQuest has 15,000 km² of seismic data; a new Production Sharing Agreement has been set up and the company is now looking for suitable partners.

Tower Resources: Cameroon

Representing a short-cycle opportunity, Tower Resources presented on the Thali Block located in the Rio del Rey Basin in Cameroon. The appraisal well will be drilled next year which aims to unlock the opportunity to drill a further three wells. Tower Resources is targeting first production at 2025.

Tower Resources: Namibia

In Namibia, Tower Resources offers an opportunity for Blocks in the Northern Walvis and Dolphin Graben Basin. Wells have been drilled at the basin, but previous activities were conducted between 25 and 30 years ago. While the company is not ready to farmout yet, Tower Resources is looking at engaging with prospective companies.

ProdOil: Benin

Angolan company ProdOil is exploring onshore Angola in the Lower Congo Block. Awarded to ProdOil in a bid round closed in 2022, work is underway to reprocess 2D seismic data and the company is looking for someone to take on the work commitment.

Atlas Oranto Petroleum International: Senegal

Atlas Oranto holds two licenses in Senegal, Cayar Shallow and St. Louis Shallow, adjacent to one another. The company is seeking to farm-down interest in those two licenses and believes that it is a highly attractive opportunity. The licenses have been extended to 2026.

Atlas Oranto Petroleum International: Equatorial Guinea

Atlas Oranto is also offering an opportunity in Block P; Block EG-02; and Block EG-H in Equatorial Guinea. The Ministry of Mines and Hydrocarbons has already approved the development plan and they believe to have between 17 and 38 million barrels of oil in place. Licenses have been extended to 2026.

Atlas Oranto Petroleum International: Namibia

In Namibia, Atlas Oranto Petroleum has an exciting opportunity in PEL 106: Blocks 2011B and 2111A. Located in the Walvis Basin, the blocks have been extended with a nine-year exploration timeline. The company is selectively looking for partners to farm-down and farm-in.

DAJO Group: Nigeria

DAJO Group is offering a 40% working interst in OPL 322, offshore Nigeria. The Block has two fields within it, the Bobo and Ago Structure.

With the opportunities on the table, the African Farmout Forum provided attendees the chance to join exciting new plays, thereby opening up new basins across the continent

Sierra Leone License 202a

Awarded under the country’s fourth licensing round to Innoson Oil and Gas Ltd, the prospect comprises nine ‘whole’ blocks comprising 8,035km². There is 2D seismic survey available with wildcats having been drilled following data acquisition. There is additional a CPR report available for any company interested in the farm-in opportunity.

Kariya Energy: Nigeria

Kariya Energy is offering an opportunity offshore Nigeria in OML 109. Currently, there are two near-term prospects which have the same geology as neighboring Ejulebe field. There is a CPR on the block which was completed in 2022. The central processing facility has been revamped and the license has been extended to 2037.

Tetracore Group: Nigeria

In Nigeria’s OML 53, Tetracore Group is looking for $50 million investment for Phase 1 of the field development to redevelop the marginal field. They have an early production plan and a lot of historic work.

Coastline Exploration: Somalia

Coastline Exploration holds interests in Blocks 129-130, 141, 143, 191, 192, 205 and 221 and has 2D seismic data on the area. The company is looking for a partner to part-fund a 3D seismic survey over some of the most prospective blocks.

ReconAfrica: Namibia

Onshore Namibia, ReconAfrica has over six million acres while in Botswana, over two million acres. The company has shot 27,000km of 2D seismic and they have 20 prospects and leads identified so far. They are approved to drill 12 prospects in the area and are going through a basin modelling.

CoMiCo: DRC

CoMiCo has an investment opportunity in the frontier Cuvette Centrale Block in the Democratic Republic of the Congo.

Africa Fortesa Corp: Senegal

Africa Fortesa Corp is seeking partners for Sadiaratou and Diender Permits in Senegal. The company is looking for capital to hook-up upcoming wells to markets. They have a right to deliver oil and gas directly to customers, making it an ideal investment opportunity.

Biogas Unite: Africa

Biogas Unite is developing a biogas project in Africa. The project comprises gas that is not immediately flammable and can easily be transported, therefore ideal for domestic use. The company is looking for $750,000 investment to upscale what they have and expand across Africa.

Further opportunities were provided in blocks in Guyana and Australia, with presenting companies including Eco Atlantic, Petro Australis Energy and Liberty.

In addition to company presentations, insight was provided into the DRC’s ongoing licensing round. Blocks are on offer in the Cuvette Centrale Basin; Albertine Graben Basin; and Lake Tanganyika Basin, with deadlines for submissions of interest January 2024; October to December 2023; and September to October 2023, respectively.

With the opportunities on the table, the African Farmout Forum provided attendees the chance to join exciting new plays, thereby opening up new basins across the continent.

#AEW2023 takes place this week in Cape Town under a mandate to make energy poverty history by 2030. Keep following www.AECWeek.com for more exciting information and updates about Africa’s premier energy event.

Distributed by APO Group on behalf of African Energy Chamber.

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Novum Studio Secures New Funding to Launch Ahoy Project, an AI-Native Enterprise Transformation Platform, Building on Its 20-Million-User Gen Z App Frog

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1 day ago

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July 24, 2026

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Novum Studio
  • Novum Studio has raised a new round of funding to launch Ahoy Project, its enterprise AI solution, with internal testing scheduled for July 2026.
  • Ahoy Project is positioned as the infrastructure for AI-native enterprise transformation – an AI-native communication platform serving as the underlying system, delivered as an end-to-end tailored solution.
  • The launch expands the company beyond Frog, its Gen Z consumer social app that has reached 20 million users across the U.S. and Europe.
  • Novum Studio said it is applying lessons from operating high-frequency social platforms at scale to workplace communication and knowledge systems.

NEW YORK, USA – Media OutReach Newswire – 24 July 2026 – Novum Studio, the company behind Frog – a Gen Z social app often described as a “new-generation Snapchat” – said it has raised a new round of funding and will use the proceeds to launch Ahoy Project, an AI-native enterprise communication and collaboration platform, with internal testing scheduled for July 2026.

The Novum Studio team at London Tech Week 2025.

Unlike conventional workplace software, Ahoy Project will not be sold as a standalone software subscription, the company said. Novum Studio provides the infrastructure and a full tailored solution for enterprises undergoing AI-native transformation, with the communication platform serving as the underlying system on which that transformation is built.

Founded as a consumer social company, Novum Studio has reached more than 20 million users across the U.S. and Europe. Frog gained traction among younger users through spontaneous, real-time sharing designed around authenticity and low-pressure interaction. The company said its experience building large-scale social “spaces” – where millions of people communicate, form groups and coordinate in real time — directly informs its approach to enterprise collaboration.

The new funding will support the launch and international expansion of the enterprise business as artificial intelligence reshapes how organizations communicate, collaborate and operate, the company said.

Novum Studio was founded by Anna Danyi, who graduated from the London School of Economics and Political Science (LSE) in 2018 and began her career in consulting and technology. Before founding Novum Studio, she built multiple consumer applications and exited through an acquisition. In 2025, Forbes China recognized her among the Top 100 most influential global Chinese figures in AI digital products area.

“We spent years understanding how millions of users communicate online,” Anna Danyi said. “In the AI era, communication itself is becoming intelligent. We believe the next generation of platforms will not only connect people — they will understand workflows, collaboration and organizational behavior.”

From Consumer Social to Enterprise AI

Modern organizations face growing challenges as critical knowledge, decisions and workflows become fragmented across chats, meetings and disconnected tools, the company said. Ahoy Project addresses this as a conversation-driven, AI-native collaboration layer: it captures context from day-to-day communication to build a searchable enterprise knowledge base and support workflow coordination.

Core capabilities include conversation-based knowledge organization, AI-assisted collaboration and workflow support integrated directly into team communication. Because the platform sits at the layer where work is discussed and decided, it can serve as the foundation for a broader AI-native operating model – with Novum Studio designing and delivering the surrounding transformation solution for each enterprise client.

Ahoy (Popeye AI) turns everyday team conversations into a searchable enterprise knowledge base.

A New Direction for Social Technology

Novum Studio said its expansion reflects a broader shift across the technology industry. Platforms such as TikTok and Instagram defined how content was distributed and consumed in the mobile social era; as AI becomes embedded in digital products, the company believes the next stage will center less on feeds and more on intelligent systems that understand communication and coordination.

“We are no longer just building products where people post content,” Anna Danyi said. “We are building systems that understand how humans communicate and operate together.”
 

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Venezuela Energy Week to Host Houston Industry Showcase, Unlocking United States (U.S.) Commercial Engagement Ahead of October Summit

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2 days ago

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July 24, 2026

By

African Energy Chamber

Ahead of Venezuela Energy Week 2026, U.S. exploration companies, independent operators, oilfield service providers and investors are invited to explore commercial opportunities across Venezuela’s upstream sector at the Houston Industry Showcase next month

HOUSTON, United States of America, July 23, 2026/APO Group/ –Venezuela Energy Week will host an Industry Showcase in Houston on August 18, 2026: a targeted industry roadshow designed to engage U.S. energy stakeholders ahead of the October summit. Held at The Post Oak Hotel, the showcase will convene senior representatives from across the U.S. upstream ecosystem – including exploration and production companies, Texas-based independents, oilfield service companies, engineering and technology firms, commercial banks, private equity firms and family offices – to assess commercial pathways for participation in Venezuela’s energy sector.

 

As Venezuela looks to expand production, U.S. companies remain well positioned to contribute technical expertise, capital and operational capabilities across the upstream value chain. Chevron’s longstanding presence in the country highlights the continued importance of U.S. industry participation, while the scale of Venezuela’s resource base continues to attract interest from major international energy companies, including ExxonMobil and ConocoPhillips. Opportunities extend across exploration, field development, production optimization, infrastructure rehabilitation and digital modernization as Venezuela seeks to strengthen its energy sector.

 

Demand is also expected to grow for oilfield service companies, engineering firms, technology providers and financial institutions that can support upstream investment and project execution. Companies including SLB, Halliburton and Baker Hughes have been identified as potential partners in advancing production optimization and infrastructure rehabilitation, while commercial banks, private equity firms and family offices will play an important role in financing future investment opportunities.

 

Against this backdrop, the Houston Industry Showcase will provide a structured engagement platform at a time when select international operators continue to operate under U.S. Treasury-authorized frameworks, and where policy considerations in the U.S. continue to shape engagement parameters in Venezuela’s energy sector.

 

The event will enable U.S. exploration companies, independent operators, oilfield service providers and investors to assess technical and commercial pathways across exploration, field services, project delivery and broader supply chain opportunities, while supporting early-stage dialogue between international investors and Venezuela-focused stakeholders in a structured commercial environment ahead of the October summit.

 

To register for the Houston Industry Showcase on August 18, visit www.venezuelaenergyweek.com/rsvp-houston. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com.

 

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4fM0rLr).

 

Distributed by APO Group on behalf of Energy Capital & Power.

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Africa Trade Gateway Delivers US$5.3-Million Cross-Border Transaction in First Energy Sector Trade in Southern Africa

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2 days ago

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July 24, 2026

By

Afreximbank

The transaction represents an important milestone for both the participating institu-tions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transac-tion in Southern Africa

HARARE, Zimbabwe, July 23, 2026/APO Group/ –A US$5.3-million cross-border fuel (gasoil) trade transaction has been successfully completed with support of the Africa Trade Gateway (ATG), African Export-Import Bank’s (Afreximbank’s) (www.Afreximbank.com) flagship digital trade ecosystem, demonstrating the value and efficacy of the Gateway in powering African trade.

The transaction, which saw Zimbabwean fuel importer Witeva Trading source a gasoil shipment from a leading commodity trader and supplier in Switzerland, with Innbucks Microbank Ltd. participating as the local issuing financial institution and Afreximbank providing confirmation support under agreed trade finance structure, demonstrates how African businesses can leverage one connected ecosystem to identify opportunities, access finance and complete international trade more efficiently.

The ATG made it possible for the commercial opportunity to be connected to the right ecosystem participants, bringing together the buyer, supplier and participating financial institutions to support a successful execution of the transaction.

The transaction represents an important milestone for both the participating institutions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transaction in Southern Africa.

This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem

It also demonstrates how African Businesses can use a single digital ecosystem to identify commercial opportunities, connect with verified counterparties, access trade-finance support and execute cross-border transactions more efficiently.

Peter Olowononi, Director, Regional Operations, Southern Africa, at Afreximbank, said:

“This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem. By creating a digital ecosystem to expand access to trade finance, Afreximbank is enabling more businesses to participate easily in regional and international trade.”

Emeka Onyia, Director, Digital Business, at Afreximbank, added:

“The Africa Trade Gateway is more than a mere digital platform; it is the ecosystem that helps trade happen. We help businesses discover opportunities, connect with trusted buyers, suppliers and financial institutions, and facilitate the journey from commercial opportunity to completed transactions. Every successful deal strengthens the network, attracts new participants and creates more opportunities for African trade.”

“As more businesses, banks and trade partners join the ecosystem, every successful transaction expands the marketplace, strengthens trust across the network and increases opportunities for future trade,” Mr. Onyia added.

Distributed by APO Group on behalf of Afreximbank.

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